Hindalco Cut To 'Underperform' By CLSA On U.S. Project Cost Overrun

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Hindalco Cut To 'Underperform' By CLSA On U.S. Project Cost Overrun

CLSA downgraded Hindalco Industries Ltd. ratings, citing cost expansion and delayed benefits from its key U.S. project.The stock was cut to 'underperform' from a 'buy' after the company's U.S. subsidy Novelis forecast a higher capex of $4.1 billion from its initial projection of $2.5 billion for its 600kt Bay Minette expansion.The commissioning of the project too has been pushed back by 9–12 months to the second half of 2026."With cost escalatio…